Blockchain Startup Zobit Acquires On Demand Hanydymen Startup FIXU

Hyderabad’s Indian School of Business (ISB) incubated startup Zobit has acquired FIXU for an undisclosed amount. Fixu, which is also based out of Hyderabad, is an on-demand handyman service aggregator which was funded by Facebook`s FbStart programme in 2016. FIXU founder Vamshi Krishna is working on blockchain to make FIXU more secure and user friendly.

Started as a project in ISB in Hyderabad by Amit Gupta, Anjali Garg and Mounika Kalidindi, Zobit aims is to provide blockchain for everyone with its platform BlockXlab and Krishna is one of the co-founders of the startup as he is studying in ISB.

Post-acquisition Krishna will become the CEO of Zobit and help FIXU go global with the use of blockchain platform BlockXlab. FIXU connects customers with home, office and professional service providers anytime anywhere within minutes. As part of the acquisition, Vamshi Krishna, CEO, FIXU will get 15 per cent stake in Zobit and 50 million Zobit coins.

“FIXU has 18 employees and has developed a base of 9,000 vendors, providing a basket of services. We have served over 22,000 customers in Hyderabad and Bengaluru,” Krishna said.

Started as a research project at the ISB last year, Zobit to provide data privacy and security to “a billion people” using Blockchain technology. It will offer the services over its platform BlockXlab. “We initially are launching three divisions FIXU, ZoPay and GamesKick,” he said.

In addition, Zobit will also be launching two more divisions apart from FIXU called ZoPay and GamesKick.

ZoPay is a unique platform which is changing the crypto industry. It is reinventing the payments by making its platform robust for crypto transactions. It will sync all your crypto hash addresses with your mobile number to make transactions easy with only one unique mobile number for all your different crypto hash addresses. GamesKick is a decentralised multi-cryptocurrency platform for skill based mobile and desktop games focused on highly intellectual players who strive for victory. This platform will give players the opportunity to test their skills in PvP matches, participate in global tournaments, and custom tournaments created by players to win real crypto-currencies. It plans to launch 500 plus multiplayer games by 2020.

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An engineer by education and writer by profession, Suman keeps tab on startup ecosystem of India and leads the research team of IndiaWeb2 for covering funding deals, merger & acquisition and market reports.